2010-P Mount Hood Five Ounce Silver Coin Sales at 14,759


From the start of sales on July 28 through August 1, 2011, the US Mint has recorded sales of 14,759 of the 2010-P Mount Hood National Forest Five Ounce Silver Uncirculated Coins. This is a dramatic slowdown compared to previous releases of the series.

With a mintage of 27,000 per design and a special vapor blasted finish, the five ounce silver coins found a stampede of buyers when the first design featuring Hot Springs National Park was released. The pace of orders was so fast, that it took down the US Mint’s website for about 45 minutes. Even with the down time, sales had reached approximately 19,000 after 9 hours of availability. By the time of the first regular sales report was issued, sales had reached approximately 25,000. A complete sell out was achieved after about 15 days of availability.

The second release featuring Yellowstone National Park saw sales progress at roughly the same pace, with first reported sales of 24,626 and a sell out after 15 days of availability.

The pace of sales started to noticeably diminish with the next two releases. The Yosemite National Park design had initial sales of 20,511 and did not sell out for about six weeks. The Grand Canyon design had initial sales of 19,200 and remains available for sale. An ordering limit of one per household continues to be in place.

Is the even bigger slowdown for the latest Mount Hood design, an ominous sign for the series?

In a past article, I used the term “ATB fatigue”. In the course of three months, the US Mint has now released five separate five ounce numismatic coins. According to the latest information available, at least some of the 2011 designs will also be released during the current year, continuing to stretch collector budgets. The exact release dates and maximum production limits for the 2011 designs have not yet been determined.

The ongoing commitment necessary to continue the collection will be significant, particularly if the price of silver continues to rise.

An interesting point of comparison: If a collector were to purchase all of the numismatic ATB five ounce silver coins for 2010 and 2011, the total silver content would be 50 troy ounces. This amount is greater than the silver content of all proof commemorative silver dollars that have been issued by the US Mint from 1983 to 2011. At 0.7736 troy ounces of silver content for 63 different coins, the total reaches only 48.7368 troy ounces.

Coin Update News: Complete US Mint Sales Report

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Comments

  1. SunTzu says

    I received my Mt. Hood on Friday. It looks perfect under a 5x loupe. No variety with the one I got, just a nice specimen. I sent back my Grand Canyon the day I got it because of what appeared to be “freckles” on Washington’s cheek. They were tiny nicks that exposed a shiny freckle-like spot with the naked eye. I noticed the varieties graded were much lower than the SP69 and SP70. I wonder if I got one and sent it back?! I didn’t hear about it until after and paid no attention to the finish of the overall coin because I was so distracted (disgusted) by the defects. I boxed it back up within 5 minutes of opening it!

    I do want to say that customer service was fantastic. They took back the coin and cut me a check for my return shipping. I sent them a fax with my receipt and they mailed me a check from the Treasury Department a week later along with a nice letter. I have to give credit where it is do and the Mint’s customer service was fast, efficient and 100% satisfactory.

  2. Simon says

    I have to concur – never had the slightest of problems with the USMint products or their customer service. The USMint has been very good to me!

  3. Ben says

    I got three Mt Hoods today (ok, I got one, my brother got one, and my other brother got one), anyway, two had obvious ‘milk spots’ on Washington’s face. I boxed them up to send back to the mint.

  4. David says

    My grand canyon had bad marks on washingtons head looked like the plastic capsule holding the coin was not snaped shut giving the coin room to move around,did return waiting for replacement.

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2010-P Mount Hood Five Ounce Silver Uncirculated Coin


Today July 28, 2011 at 12:00 Noon ET, the United States Mint will release the fifth 2010-P America the Beautiful Five Ounce Silver Uncirculated Coin. This issue features Mount Hood National Forest.

The reverse of the coin has a view of Mount Hood with Lost Lake in the foreground and was designed by Phebe Hemphill. The obverse of the coin features John Flanagan’s 1932 portrait of George Washington.

These numismatic coins are intended to have a surface finish created through a vapor blasting technique. Some collectors have recently encountered examples which have a “light finish” or which completely lack the finish on one or both sides of the coin. The most frequent reports have come for the Grand Canyon design, although there has been at least one reported discovery for the Yellowstone design. Coin Update recently had an article providing the known information on these errors and varieties. Yesterday, the US Mint released a statement on the inconsistent finishes.

Details of the Mount Hood Five Ounce Silver Uncirculated Coin follow those of the previous releases. Each coin is priced at $279.95, the total mintage is 27,000 pieces, and an ordering limit of one per household will be in place for the start of sales.

Previous releases have seen relatively swift sell outs. In most cases, after the total number of orders received have met the maximum mintage, the US Mint has continued to accept orders for placement on a waiting list. These orders are only fulfilled in the event that coins become available due to order cancellations. Based on the product page of the upcoming Mount Hood coin, the US Mint will use a waiting list again.

Here are time lines summarizing the offerings for the prior four coins in the series.

Hot Springs National Park
April 28: sales begin
May 2: opening sales reach approximately 25,000
May 13: product put on waiting list as orders reach 27,000

Yellowstone National Park
May 17: sales begin
May 22: opening sales reach 24,626
June 1: product sold out, no waiting list imposed

Yosemite National Park
June 9: sales begin
June 12: opening sales reach 20,511
June 23: waiting list incorrectly posted
July 9: ordering limit removed
July 11: incorrect waiting list notice removed
July 20: product put on waiting list as orders reach 27,000

Grand Canyon National Park
June 29: sales begin
July 3: opening sales reach 19,300
as of July 28: last reported sales 22,785, ordering limit remains in effect

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